CBI brings back UAE fugitive in Rs 88-crore investment scam

The Central Bureau of Investigation (CBI), working with the Ministry of External Affairs (MEA) and the Ministry of Home Affairs (MHA), has brought fugitive Vishakha Rathod back to India from the United Arab Emirates (UAE). She arrived in Pune on August 3 and was taken into custody by Maharashtra Police for further investigation.

Rathod, who was wanted under an Interpol Red Notice, is accused in an Rs 88-crore investment fraud linked to APS Wealth Ventures LLP. According to the CBI, Rathod, her husband Avinash Arjun Rathod, and others allegedly persuaded many investors to invest in various schemes by promising fixed monthly returns. Investigators believe the money was misused and moved through several bank and demat accounts. Their firm in Pune is accused of running a Ponzi scheme, offering unusually high returns, including claims of up to 5 per cent monthly profits that could quickly double investments.

The case began with a complaint filed in April 2023 at Chatushrungi police station in Pune. As the Economic Offences Wing (EOW) of Pune Police investigated, they found the alleged fraud affected hundreds of depositors, with losses estimated at Rs 88 crore. Even though formal investment agreements were made, the promised returns and principal were not paid back.

Vishakha Rathod left after the investigation started. In April 2024, authorities issued a Look Out Circular for the couple. The Maharashtra Protection of Interest of Depositors (MPID) Court then issued arrest warrants and a public notice. On June 4, 2026, Interpol Red Notices were issued for both, allowing global tracking.

Avinash Rathod was detained in the UAE and sent back to India on July 23. He was arrested at Mumbai International Airport by the Pune EOW and later placed in police custody. With Vishakha Rathod’s deportation soon after, both main accused have now been brought back within a short period.

The CBI, acting as India’s National Central Bureau for Interpol, worked with Emirati law enforcement, the MEA, and the MHA to locate and bring back the accused. The investigation is ongoing in Pune, where both accused are now in the custody of Maharashtra Police. Authorities are tracing the money, looking into the involvement of associates and assessing the total losses to investors.